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Auswide cuts mortgage rates
Auswide has cut interest rates on selected home loans, including fixed and variable rate options for investors and owner occupiers.
The biggest rate cut was for the Freedom Package Investment Loan Plus Discount Fixed (Interest Only) 3 Years, which fell by 30 basis points from 4.29% to 3.99% (comparison rate 5.29%).
Auswide’s most modest cut was on the Freedom Package Investment Loan Plus Discount Variable (Interest Only), which fell 10 basis points from 4.19% to 4.09% (comparison rate).
Other banks that have cut mortgage rates in the past month include ING, Bankwest, Westpac and Macquarie.
| Loan | Interest rate (old/new) | Comparison rate (old/new) | Monthly Repayment* (old/new) | Change (rate/repayment*) |
|---|---|---|---|---|
| Freedom Package Home Loan Plus Discount Fixed (Principal and Interest) 3 Years | 3.79%/3.59% | 4.6%/4.55% | $2327/$2270 | -0.2%/-$57 |
| Freedom Package Investment Loan Plus Discount Fixed (Interest Only) 3 Years | 4.29%/3.99% | 5.37%/5.29% | $2471/$2384 | -0.3%/-$87 |
| Freedom Package Investment Loan Plus Discount Fixed (Principal and Interest) 3 Years | 4.09%/3.89% | 5.11%/5.05% | $2413/$2355 | -0.2%/-$58 |
| Freedom Package Investment Loan Plus Discount Variable (Interest Only) | 4.19%/4.09% | 4.57%/4.47% | $2422/$2413 | -0.1%/-$29 |
*Assumptions: $500,000 home loan, paid monthly on a 30-year term. Repayment value may change when fixed term ends and reverts to a variable interest rate.Source: MoneySmart
Disclaimer
This article is over two years old, last updated on May 12, 2019. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
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Product database updated 22 Sep, 2024
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